LNG

Naturgy Energy Group, the Spanish utility and importer of US and Russian LNG, posted an annual net profit after the previous year’s losses amid continuing challenges in its businesses in Europe and South America.

Naturgy, the Spanish utility with Latin American assets and LNG volumes from the US and Russia, swung to a profit after losses last year linked to restructuring as it invested in natural gas infrastructure and renewables.

Naturgy Energy Group, the Spanish utility with major US and Russian liquefied natural gas supply contracts as well as gas and power businesses in six Latin American countries, reported lower sales and margins in the short-term LNG market offset by strong long-term sales growth.